815 N 13th St · St. Joseph, MO 64501

$65,000

4 bd · 0.0 ba · 1,201 sqft · MultiFamily public records · 11 Days on market

Built 1912 3,920 sqft lot

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Calling all investors. .. .. this house was a duplex at one time and can be changed back. This house is being sold as is. There are no utilites on in the home. If showing may want to take a flashlight.

Key facts

• 3,920 sq ft lot
• 4 parking spots
• Built 1912

Property features AI

Finance

• Other: Age: 101 years or older
• Financial info: Operating expenses include other items; Annual tax approx. $406

Exterior

• Parking: On-street parking for 4 vehicles (total parking count 4)
• Utilities: Public water; Public sewer; Other utilities
• Home design: Duplex residential income property; Two stories
• Construction: Frame construction with wood siding; Composition roof
• Exterior features: Lot approximately 3,920 square feet; Located in a city zoning area; Flood plain status unknown; Directions: Frederick, north on 13th, house is on the right

Interior

• Bedrooms: Two 2-bedroom units; One 1-bedroom unit
• Heating & cooling: No heating; No cooling
• Interior features: Basement present; Currently vacant units

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $65k.

Deal economics

• At list price, monthly cash flow is $936 ($11k/yr) — positive. Per door: $468/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Cap rate 23.6% vs local median 4.7% in St. Joseph — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• St. Joseph (urban): math 28% / reading 38% proficiency, ranked #241 of 324 in MO (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 97 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 70 units permitted in Buchanan County in 2024 (0 in 5+ unit buildings).
• This rent runs 43% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Buchanan County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 26y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.60% ✓
• Cap rate: 23.57%
• Cash-on-cash: 61.70%
• DSCR: 3.75
• GRM: 3.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 60.6%
• Equity multiple: 3.70×
• Total profit: $49,060
• Equity at exit: $9,692

10-year hold

• IRR: 65.2%
• Equity multiple: 7.56×
• Total profit: $119,446
• Equity at exit: $5,620

Cash invested: $18,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 81 Strongly Landlord-Friendly
• State Missouri: 81 Strongly Landlord-Friendly · R+10
• County: — inherits STATE
• City: — inherits STATE

Generally landlord-friendly; St Louis has some habitability requirements.

Methodology + full state rankings →

ZIP-level market 64501

• Active inventory: 97
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,693 high
• Mortgage (P&I): −$341
• Tax from tax record: −$34 /mo · $406/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $936

Break-even live

Break-even rent $509

Max offer price $65,000

Occupancy floor 40%

Sensitivity live

Price	-10% $973	-5% $954	+0% $936	+5% $917	+10% $899
Rent	-10% $802	-5% $869	+0% $936	+5% $1,003	+10% $1,069
Rate	-1.0pp $968	-0.5pp $952	base $936	+0.5pp $919	+1.0pp $902

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,694
Total (2 units)			$1,693

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
303 S 13th St St Joseph, MO	3.0	1.5	1000	$950	$0.95	44d	1	0.63mi
2901 Frederick Ave Saint Joseph, MO	2.0–3.0	1.0	900	$1,000	$1.11	44d	1	1.20mi

Listing history 9 events

1. 2026-06-19
   days on market $65,000 Active 11 DOM
2. 2026-06-18
   days on market $65,000 Active 10 DOM
3. 2026-06-17
   days on market $65,000 Active 9 DOM
4. 2026-06-16
   days on market $65,000 Active 8 DOM
5. 2026-06-15
   days on market $65,000 Active 7 DOM
6. 2026-06-14
   days on market $65,000 Active 5 DOM
7. 2026-06-12
   days on market $65,000 Active 4 DOM
8. 2026-06-09
   remarks 389-char remark
9. 2026-06-09
   listed $65,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MO · Resets to sale price

• Current annual tax: $406 · $34/mo
• Projected year-2 tax: $630 · $53/mo
• Expected delta: +$225/yr (+$19/mo · 55.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,316
• − Mortgage interest: −$3,641
• − Property taxes: −$406
• − Insurance: −$325
• − Repairs & maintenance: −$1,625
• − Management: −$1,625
• − Depreciation: −$1,891
• Taxable income: $10,803
• Est. tax owed @ 24.0%: −$2,593
• After-tax cash flow: $8,636/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: St. Joseph
• NCES district ID: 2927060
• Math proficiency: 28% ▼ -6.00%
• Reading proficiency: 38% ▼ -1.00%
• Median HH income: $43,007
• Composite: 27.99/100
• National rank: #6853
• State rank: #241 of 324 in MO

Livability — St. Joseph

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. Joseph, MO
• County: Buchanan County · 32,150 people
• City population: 44,382
• Metro: St. Joseph, MO-KS
• Population (ZIP): 10,689
• Household income: $46,731
• Rent vs Own: 50.8% rent · 49.2% own
• Severe rent burden: 721.0

Population outlook (Buchanan County) Hauer SSP2

• Today (2025): 89,041 people
• By 2030: 88,401 · -0.7%
• By 2040: 86,220 · -3.2%
• By 2050: 83,603 · -6.1%
• By 2075: 76,750 · -13.8%
• By 2100: 67,623 · -24.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Black 12% Hispanic / Latino 11% Two or more races 9%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Italian 3% Romanian 1% Slovak 1%
• Foreign-born: 7% · Canada, China
• Languages at home: 89% English-only · Spanish 7% Arabic 1%

Political lean MEDSL · Buchanan

• 2024 margin: Strong R (+28.0) · D 35.2% · R 63.3% · Other 1.5%
• 2008→2024 swing: -28.2pp toward R · 2008: 0.1pp · 2024: -28.0pp
• All cycles: 2024: R+28.0 2020: R+24.6 2016: R+26.2 2012: R+8.7 2008: D+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -150.20%
• Current HPI: 157.8706
• Rent YoY: —
• Metro: St. Joseph, MO-KS
• State GDP YoY: ▲ 1.84%
• F500 in state: 20

Industry mix (Fortune 500 HQ in MO)

Industry	F500 HQs	Revenue
▸Healthcare	1	$163B
▸Insurance	1	$21B
▸Industrial Technology	1	$17B
▸Retail	1	$16B
▸Industrial Distribution	1	$10B
▸Utilities	1	$9B

Price history

+35.4% since first listed

30 events — show timeline

• 2026-06-08 Listed $65,000 Heartland MLS as Distributed by MLS Grid
• 2025-09-25 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-04-30 Price Changed $89,900 Heartland MLS as Distributed by MLS Grid
• 2025-04-25 Price Changed $99,900 Heartland MLS as Distributed by MLS Grid
• 2025-04-25 Price Changed $79,900 Heartland MLS as Distributed by MLS Grid
• 2025-03-13 Listed $120,000 Heartland MLS as Distributed by MLS Grid
• 2022-08-22 Sold (Public Records) — Public Records
• 2022-08-19 Pending — Heartland MLS as Distributed by MLS Grid
• 2022-08-19 Relisted — Heartland MLS as Distributed by MLS Grid
• 2022-08-17 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2022-08-14 Pending — Heartland MLS as Distributed by MLS Grid
• 2022-08-03 Price Changed $19,500 Heartland MLS as Distributed by MLS Grid
• 2022-08-03 Listed $18,500 Heartland MLS as Distributed by MLS Grid
• 2022-07-08 Sold (Public Records) — Public Records
• 2022-07-07 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2022-07-01 Pending — Heartland MLS as Distributed by MLS Grid
• 2022-06-06 Listed $22,000 Heartland MLS as Distributed by MLS Grid
• 2018-06-28 Sold (Public Records) — Public Records
• 2017-02-16 Sold (Public Records) — Public Records
• 2014-06-09 Listed $54,900 Heartland MLS as Distributed by MLS Grid
• 2013-03-29 Sold (Public Records) — Public Records
• 2009-12-31 Sold (Public Records) — Public Records
• 2009-12-02 Sold (Public Records) — Public Records
• 2009-12-01 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2009-04-16 Listed $35,000 Heartland MLS as Distributed by MLS Grid
• 2007-05-23 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2007-03-08 Listed $16,650 Heartland MLS as Distributed by MLS Grid
• 2001-01-16 Sold (Public Records) — Public Records
• 2001-01-16 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2000-09-15 Listed $48,000 Heartland MLS as Distributed by MLS Grid

Property tax history

+0.5%/yr

Latest (2025): $406 · +26.1% YoY. Source: county tax records.